Common use of Canadian Pension and Benefit Plans Clause in Contracts

Canadian Pension and Benefit Plans. (a) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall have any liability in respect of any “multi-employer pension plan,” as that term is defined in Applicable Canadian Pension Legislation if such liabilities would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 in the aggregate; (b) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall establish, adopt or agree to contribute to any pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, or acquire any Person who sponsors, maintains, administers, or is or may be required to contribute to a pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, if the funding deficit in respect of such pension plan, as determined on a hypothetical wind-up basis, if any, would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 in the aggregate; or (c) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall take any action to effect the full or partial wind-up or termination, or to cause any Canadian Governmental Authority to order the full or partial wind-up or termination, of any Canadian Pension Plan with a “defined benefit provision” (as that term is defined in the ITA), if such full or partial wind-up or termination would reasonably be expected to give rise to a windup deficit in excess of the U.S. Dollar Equivalent of U.S.$50,000,000 in the aggregate.

Canadian Pension and Benefit Plans. (a) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall have any liability in respect of any “multi-employer pension plan,” as that term is defined in Applicable Canadian Pension Legislation if such liabilities would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 U.S.$100,000,000 in the aggregate; (b) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall establish, adopt or agree to contribute to any pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, or acquire any Person who sponsors, maintains, administers, or is or may be required to contribute to a pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, if the funding deficit in respect of such pension plan, as determined on a hypothetical wind-up basis, if any, would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 U.S.$100,000,000 in the aggregate; or (c) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall take any action to effect the full or partial wind-up or termination, or to cause any Canadian Governmental Authority to order the full or partial wind-up or termination, of any Canadian Pension Plan with a “defined benefit provision” (as that term is defined in the ITA), if such full or partial wind-up or termination would reasonably be expected to give rise to a windup deficit in excess of the U.S. Dollar Equivalent of U.S.$50,000,000 U.S.$100,000,000 in the aggregate.

Canadian Pension and Benefit Plans. (a) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall have any liability in respect of any “multi-employer pension plan,” as that term is defined in Applicable Canadian Pension Legislation if such liabilities would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 $50,000,000 in the aggregate; (b) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall establish, adopt or agree to contribute to any pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, or acquire any Person who sponsors, maintains, administers, or is or may be required to contribute to a pension plan with a “defined benefit provision” (as that term is defined in the ITA) that would be a Canadian Pension Plan if in existence as of the date hereof, if the funding deficit in respect of such pension plan, as determined on a hypothetical wind-up basis, if any, would reasonably be expected to exceed the U.S. Dollar Equivalent of U.S.$50,000,000 $50,000,000 in the aggregate; or (c) Without the prior written consent of the Global Agent, such consent not to be unreasonably withheld, delayed or conditioned, neither the Borrower nor any of its Subsidiaries organized in Canada shall take any action to effect the full or partial wind-up or termination, or to cause any Canadian Governmental Authority to order the full or partial wind-up or termination, of any Canadian Pension Plan with a “defined benefit provision” (as that term is defined in the ITA), if such full or partial wind-up or termination would reasonably be expected to give rise to a windup deficit in excess of the U.S. Dollar Equivalent of U.S.$50,000,000 $50,000,000 in the aggregate.